Velan Inc. Announces Appointment of Benoit Alain as Chief Financial Officer, Effective on June 1, 2021
May 03, 2021 at 12:23 pm EDT
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Velan Inc. announced as part of the planned succession of the company`s finance department, the appointment of Benoit Alain as its new Chief Financial Officer. Beginning as Special Advisor to the CEO, M. Alain will undertake his official responsibilities as CFO on June 1, 2021. He will be a key member of the company's Senior Management team and will succeed John Ball, who has been effectively carrying out his mandate as interim Chief Financial Officer since last January. As of June 1, Mr. Alain will report directly to Yves Leduc, CEO, as well as the Chair of the Audit Committee of Velan Inc. Benoit Alain, an international executive, began his career at Raymond Chabot Martin Paré, and progressed to lead finance departments in the manufacturing industry, culminating with senior roles in ArcelorMittal and Cascades. At ArcelorMittal, he held successive CFO roles for Canada, North America, and the mining group, of which he eventually became the Chief Marketing Officer. He joined Cascades as CFO of the Tissue Group and eventually led two of its major business units, with P&Ls up to $600 million in sales. He left Cascades to join Atis as CEO where he remained two years, enacting important strategic, financial, and organizational changes while leading the company through the global pandemic. Benoit will assume leadership of Velan's global finance department, bringing along his complete finance and business leadership experience, which includes having carried out multiple M&A transactions throughout his career. John Ball will continue to act as interim CFO until June 1, and thereafter report to Benoit, resuming his previous role as EVP Global Finance, having previously served as Velan's CFO for fifteen years.
Velan Inc. is a Canada-based manufacturers of industrial valves. The Company designs, manufactures and markets a range of industrial valves for use in industry applications, including power generation, oil and gas, refining and petrochemicals, chemicals, liquid natural gas and cryogenics, pulp and paper, geothermal processes and shipbuilding. Its products include Quarter-turn valves, Gate, globe, and check valves, Cryogenic valves, HF Acid valves, Steam traps, Bellows seal valves and Velan ABV Valves. Its services include research and development, maintenance manuals (IOMs), spare parts and service locations. The North American operations comprising two manufacturing plants in Canada, as well as one manufacturing plant and one distribution facility in the United States. Its overseas operations include manufacturing plants in France, Italy, Portugal, Korea, Taiwan, India, and China. The Companyâs operations also include a sales operation in Germany.